Array Biopharma Inc (ARRY) : Bvf Incil reduced its stake in Array Biopharma Inc by 21.79% during the most recent quarter end. The investment management company now holds a total of 6,461,186 shares of Array Biopharma Inc which is valued at $43,548,394 after selling 1,799,711 shares in Array Biopharma Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Array Biopharma Inc makes up approximately 7.17% of Bvf Incil’s portfolio.
Other Hedge Funds, Including , Highbridge Capital Management boosted its stake in ARRY in the latest quarter, The investment management firm added 15,257 additional shares and now holds a total of 34,938 shares of Array Biopharma Inc which is valued at $235,482. Array Biopharma Inc makes up approx 0.01% of Highbridge Capital Management’s portfolio.California State Teachers Retirement System boosted its stake in ARRY in the latest quarter, The investment management firm added 3,000 additional shares and now holds a total of 305,901 shares of Array Biopharma Inc which is valued at $1,991,416.
Array Biopharma Inc opened for trading at $7.37 and hit $7.96 on the upside on Monday, eventually ending the session at $7.93, with a gain of 8.33% or 0.61 points. The heightened volatility saw the trading volume jump to 53,19,472 shares. Company has a market cap of $1,337 M.
On the company’s financial health, Array Biopharma Inc reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $-0.22. The company had revenue of $39.27 million for the quarter, compared to analysts expectations of $36.93 million. The company’s revenue was up 142.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.15 EPS.
Many Wall Street Analysts have commented on Array Biopharma Inc. Company shares were Reiterated by Leerink Partners on Sep 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 9 from a previous price target of $6 .Company shares were Reiterated by Piper Jaffray on Sep 26, 2016 to “Overweight”, Firm has raised the Price Target to $ 10 from a previous price target of $7 .
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat patients afflicted with cancer. The Companys wholly owned clinical stage drugs include Filanesib in Phase II clinical trials is indicated for Kinesin spindle protein (KSP) inhibitor for MM; ARRY-797 in Phase II clinical trials indicated for p38 inhibitor for Lamin A/C-related dilated cardiomyopathy (LMNA-DCM); ARRY-502 in Phase II clinical trials indicated for CRTh2 antagonist for asthma and ARRY-614 in Phase I clinical trials is indicated for p38/Tie2 dual inhibitor for myelodysplastic syndromes (MDS). In addition the Company has 11 ongoing partner-funded clinical programs including two MEK inhibitors which are both in Phase III clinical trials binimetinib with Novartis and selumetinib with AstraZeneca.